Color bidding lead to 1000 crores scam:

Yahwanth Sabbithi
Aug 16, 2020
2 min read

-Chinese Hawala racket accused Luo Sang was arrested by Delhi police in connection to a Hawala scam in 2018 but was eventually let off by the court.

Many people in this lockdown are Atractted to make money with the help of free online games or else bidding etc..These helped a lot of people to get benefited by making some fraud websites and they had made a lot of income using their interest towards earning the money this is a case of study where a person of china named Mr.Sang had used this opportunity of lockdown and was successfully running the plan.

Strategy & plan:

Usage of social engineering:

what is social engineering?
why do hackers and criminals opt for this method?

Mr.Sang was really a great person in aging the trust of the customers.

To say technically it is called "Social Engineering" and this is the best method to control a human familiar as the "Human Hack" people opt for this method when they have no option to gather their information from the internet this is a powerful attack compared any other attacks in the field of "CYBER-SECURITY".

Mr.Sang had used all the social platforms to gain the initial trust of the people about the app he created known as "Booe" this was a promising website that was looking totally safe for investing money and getting profited this was the front face of the website. he included some shopping of products option also so that people will believe that this is an official app and there wouldn't be any problem and after. Now starts the main thing there was a platform where people choose a color and then related to that color there would be a color bidding if you predict the correct color and invest money they double it up and return you.

People were attracted to this game familiar as color bidding many people started to refer to this application. They shared it and made this popular and now he created a telegram group in which he predicts which color to be chosen and new customers to this application were advised to follow him because they believed that they will gain money if they do what he says and yes it gives you money doubled twice and you earn but this all will be at the starting itself once you become a regular person to invest money then you start to lose the money continuously this and from then the total control will be in their hands in this way they grabbed a profit of 1000 crores.